Investment banks keeping close eye on Yogiyo ‘megadeal’

South Korean retail investors have emerged as deep pockets in the stock market, pouring in more than 100 trillion won ($90.6 billion) since early last year, data showed Sunday. Individual investors net bought a combined 102.2 trillion won in local and overseas stocks from Jan. 2, 2019, to Friday, according to data from the Korea Securities Depository (KSD). During the cited period, individuals bought a net 77.8 trillion won worth of local stocks. They bought 59 trillion won worth of stocks tra

The announcement of two fund closures by US investment firm KKR this week highlighted its anticipation for real asset recovery in the Asia-Pacific region, including South Korea. KKR on Wednesday closed the $1.7 billion fund KKR Asia Real Estate Partners, which is focused on real estate investments in the Asia-Pacific region to meet demand for modernized properties and developments. A few days earlier, its KKR Asia Pacific Infrastructure Investors on Sunday closed a $3.9 billion vehicle for inf

South Korean stocks dipped more than 2 percent Friday as investors booked profits from a recent rally. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 64.03 points, or 2.03 percent, to close at 3,085.9 points. Trading volume was high at about 1.3 billion shares worth around 22.8 trillion won ($20.7 billion), with losers outnumbering gainers 626 to 240. The KOSPI opened higher, buoyed by a massive stimulus proposal by US President-elec

South Korean stocks opened higher Friday, as investor sentiment was boosted by a massive stimulus proposal by US President-elect Joe Biden that fueled hopes of speedy global recovery from the pandemic. The benchmark Korea Composite Stock Price Index rose 11.13 points, or 0.35 percent, to 3,161.06 points in the first 20 minutes of trading. Samsung Electronics shed 0.78 percent, and No. 2 chipmaker SK hynix advanced 1.92 percent. Leading chemical firm LG Chem retreated 0.3 percent, but recharge

Park Hyun-joo, chairman and founder of South Korea’s Mirae Asset Group, on Thursday urged analysts to explore innovative companies, stressing shifting investment strategies focusing on the growth potential of companies rather than assessment of the manufacturing value chain. At an online investment strategy meeting, Park referred to unexpected innovations that could have a significant impact on the market, saying that the markets are transitioning from a focus on the value chain to innova

NXC, the holding company of South Korea’s largest game developer Nexon, has invested $16 million in SpaceX, the aerospace company run by electric carmaker Tesla CEO Elon Musk, the company said Thursday. “NXC invested $16 million in SpaceX’s fundraising round in August, in which the spaceflight company issued convertible preferred stocks,” said an NXC official, declining to comment on details of the deal. SpaceX is said to have issued preferred stocks at the time to ra

The South Korean stock benchmark surpassing the 3,000-point mark last week highlighted the rise of retail investors, which mitigated a series of negative factors that had left the local stock market undervalued, market experts and leaders of financial companies said Thursday. They were referring to the massive capital injected by individual investors who have pushed up the market index, saying it has helped mitigate the so-called “Korea discount,” which refers to the undervaluing of

South Korea’s IPO market has seen a shift in its driving force with information technology and biopharma companies taking the lead, replacing manufacturing and finance firms in recent years, a report showed Thursday. According to the report released by the Korea Exchange, initial public offerings of companies delivering IT and communication services topped the list of industries, accounting for 22.8 percent of all market debuts made on the nation’s main bourse after its benchmark Ko

South Korean stocks closed nearly flat Thursday as investors cashed in gains from large-cap chip and auto stocks amid valuation pressure in sectors such as chipmaking and automaking. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.64 points, or 0.05 percent, to 3,149.93. Trading volume was high at about 1.2 billion shares worth around 23.8 trillion won ($21.7 billion), with gainers outnumbering losers 518 to 320. Foreigners scooped up

The coronavirus pandemic and a series of hedge fund turmoils last year have impeded the growth of private funds managed by asset management companies in South Korea, data showed Thursday. According to data by the Korea Financial Investment Association, the combined assets managed by Korea-domiciled private funds grew 5.7 percent to 438.7 trillion won ($398.4 billion) in 2020, far lower than their 2019 growth which stood at 23.5 percent. Between 2014 and 2019, the funds grew 18.8 percent annual

  South Korea’s financial authorities on Thursday unveiled a comprehensive policy framework that obligates listed firms to disclose corporate information on investment activities related to environmental, social and governance standards, so-called ESG, in phases. Under the envisioned scheme jointly released by the policymaking Financial Services Commission, the market watchdog Financial Supervisory Service and the country’s sole bourse operator Korea Exchange, companies liste

South Korean stocks opened almost flat Thursday on increased valuation pressure after the key index closed at a near all-time high the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.27 points, or 0.07 percent, to 3,150.56 in the first 20 minutes of trading. The main index started on a muted tone as foreigners and institutions are set to lock in gains after the key index's recent bullish run. Most large caps in Seoul traded mixed. Market bellwether Samsung El

Retail investors' stock-related funds have risen by nearly 20 trillion ($18.2 billion) this year on the back of a surging stock market, industry data showed Thursday. Individuals' stock funds increased by 19.6 trillion won for eight sessions from Jan. 4-13, amounting to nearly 20 percent of last year's total. Those funds refer to money that retail investors use to buy stocks or deposit at securities companies to purchase shares. Over the cited period, individuals bought 10.8 trillion won wort

South Korea‘s top financial regulator said Wednesday it has granted preliminary approval for Netherlands-based brokerage house IMC to operate its financial investment and brokerage business in the country.  The move came after the Dutch firm had requested the Financial Services Commission’s approval in June last year. The brokerage obtained the authority‘s final nod on the condition that its Seoul-based subsidiary serves as a market maker -- a member of an exchange comm